Macroeconomics Commons^™

Indonesia Poverty Reduction Strategies: Shifting Policies To Promote Employment In The Poorest Four Deciles, Ardi Adji, Sri Hartini Rachmad

Economics and Finance in Indonesia

This paper observes the working status and conditions of people who fall into the poorest four deciles in Indonesia. The research aims to provoke policy shifts in the drive to accelerate poverty reduction in Indonesia, taking a longer view of people being more employable and less dependent; also identifying the dominant factors preventing people from moving out of poverty and improving their life quality. By comparing elements of gender, age, education and health against employment status and opportunities. Simultaneously social assistance and protection programs are evaluated in relation to their stated target groups to determine their suitability and their impact.

Provinces And Local Government Revenues Structures And Intra-Province Economic Disparity, Riatu Qibthiyyah

Economics and Finance in Indonesia

One of major policies of Indonesia Decentralisation is the adoption on various type of revenue sharing among provinces and local governments and also the devolved of taxes to lower level government in particular to the province level. Challenges of policy toward higher degree of revenue autonomy, is that an increase in revenue sharing as well as devolved taxes would enhance economic disparity among regions. Further, our finding shows that different types of revenue sharing seem to have different effect on intra-province economic disparity.

Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle

National Youth Advocacy & Resilience Conference

The Foundation for Economic Education (FEE) aims at equipping Title 1 schools with free, hands-on, engaging materials that any teacher can facilitate either individually or in a classroom setting with no background in entrepreneurship necessary. These versatile lessons, courses, and workshops teach the entrepreneurial mindset optimizing opportunities for grades 8-12 students no matter which life/career path they choose.

Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita

Dissertations, Theses, and Capstone Projects

This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our model …

Three Essays On Credit Markets And The Macroeconomy, Timothy P. Bianco

Theses and Dissertations--Economics

Historically, credit market conditions have been shown to impact economic activity, at times severely. For instance, in the late 2000s, the United States experienced a financial crisis that seized domestic and foreign credit markets. The ensuing lack of access to credit brought about a steep decline in output and a sluggish recovery. Accordingly, policymakers commonly take steps to mitigate the effects of adverse credit market conditions and, at times, conduct unconventional monetary policy once traditional policy tools become ineffective. This dissertation is a collection of essays regarding monetary policy, the flow of credit, financial crises, and the macroeconomy. Specifically, I …

Three Essays On Exchange Rate And Capital Controls, Yaorong Lou

Theses and Dissertations--Economics

This dissertation consists of essays that study exchange rate pass-through, China’s de facto exchange rate regime, and China’s capital controls.

The first essay studies exchange rate pass-through (ERPT) by using a set of data from ten countries including four advanced economies and six Asian emerging markets. The price indices used in this essay include consumer price, producer price, import price and export price indices. While most literature only include the import price index, this essay also puts emphasis on the export price index. It investigates the asymmetry in the ERPT between depreciation and appreciation of domestic currency by using a …

The Impact Of Government Debt On Macroeconomic Indicators: Evidence From G7 And Asean Countries, Amani Ahmed Alzahrani

Masters Theses

Government debt continues to be a critical economic policy issue, which largely affects both developed and developing countries, due to elevated level of debt. From a general viewpoint, government debt is a crucial feature of a country's financial system and a major indicator that contributes to the formation of a country's reputation in the international market.

This paper investigates the impact of government debt on certain macroeconomic and wellbeing indicators in a group of industrialized and developing countries. That is, the study seeks to examine how government debt influences GDP per capita, domestic and foreign investment, and HDI in both …

Revenue And Distributional Impact Analysis Of Indonesian Personal Income Tax Reform In 2008, Bimo Wijayanto, Yogi Vidyattama

Economics and Finance in Indonesia

Since 1983, Indonesian tax policy has been the subject of ongoing reforms in order to replace the old colonial tax arrangements, reduce income dependency from oil and gas, decrease the government's foreign debt and maintain its fiscal sustainability. Nevertheless, after 25 years of reform, actual Indonesian tax performance is still far from what might have been expected as Indonesia have one of the lowest total tax ratios among the ASEAN countries. This research show that the most recent changes put in place may have reduced potential tax revenue from personal income but an increase in the compliance rate.

Determinants Of Port Performance - Case Study Of 4 Main Ports In Indonesia (2005-2015), Atika Aqmarina

Economics and Finance in Indonesia

Port plays significant role in supporting economic growth of a country. This study aims to analyze the determinant of port performance in Indonesia. In this research, the ports selected are four main ports in Indonesia which are Port of Belawan, Port of Tanjung Priok, Port of Tanjung Perak, and Makassar. These ports are designed as the hub ports in the national sea transport system of the country. The study used pooled OLS as the methodology to analyze the determinant. The result of this studies shows that total traffic is not influenced by operating surplus per ton, whereas the rest of …

Tourism And Economic Development In Asean 1998-2013, Umara Ardra, Berly Martawardaya

Economics and Finance in Indonesia

Many countries support government policies to encourage tourism sector, including ASEAN countries, due to an assumption that tourism contributes positively to GDP and poverty reduction. This study investigates that assumption, as well as the correlation between tourism and HDI, by applying panel data regression to eight ASEAN countries (Brunei Darussalam, Indonesia, Laos Singapore, Malaysia, Thailand, the Philippines, and Vietnam,) during 1998-2013. We found that the number of international tourist arrivals as a proxy variable for tourism have a significant and positive correlation with poverty reduction. Tourism is also proven to increase GDP per capita (albeit in a smaller magnitude) and …

Mapping Persons With Disabilities (Pwds) In Indonesia Labor Market, Dr. Alin Halimatussadiah, Chaikal Nuryakin

Economics and Finance in Indonesia

The empowerment of Persons with Disabilities (PWD) has recently attracted the attention of the Indonesian government. Several initiatives have been made to empower their life, especially the establishment of Act No. 8/2016 which enhances their right to inclusive economic activities. This study aims to map PWD in Indonesian labor market. Specifically, it analyzes the characteristics of employed and unemployed PWD. It explored Labor Force Survey (Sakernas), which began to concern on disability issue in 2016. The results show that PWD prevalence varies highly among provinces led by West Sumatera, East Nusa Tenggara, and South Sulawesi and that PWD has lower …

Types And Severities Of Export Barriers: Evidence From Indonesian Smes, Mohamad Revindo

Economics and Finance in Indonesia

Small and Medium-sized Enterprises (SMEs) are more constrained to export than their large counterparts and SMEs' limited participation in export market is more prevalent in developing than in developed countries. Extant literature suggests that SMEs encounter a set of export inhibiting factors distinct to those faced by large firms and therefore accurate identification of export barriers is crucial in fostering SMEs export. This study investigates the export barriers faced by Indonesian SMEs. The evidences were collected from 271 exporting SMEs and 226 non-exporting SMEs in seven provinces in Jawa, Madura and Bali regions. The results show that the types and …

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an …

Essays On The Impact Of Exchange Rate Movements On Stock Return And Country Output, Junnan Zhao

Dissertations, Theses, and Capstone Projects

Exchange rate movements are widely believed to be a major source of uncertainty at both micro- and macro-economic levels. At the microeconomic level, corporate managers controlling risk and investors seeking to hedge their portfolios are both obviously interested in estimates of a firm’s exchange rate exposure ̶ i.e., how much of the value of a firm will be affected by exchange rate movements. At the macroeconomic level, a currency appreciation may have a contractionary effect on a country's output.

Chapter 1 tests whether the launch of the euro around 1999 significantly reduced stock market volatility and exchange rate risk exposure …

Three Essays On The European Sovereign Debt Crisis With A Special Focus On Greece, Flora Leventi

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters where I examine several aspects of the European sovereign debt crisis. The first chapter focuses on systemic risk. Following the financial crisis of 2007-08, both in academic as well as policy circles, much of the research has focused toward the systemic importance of financial institutions. Parallel to that research, but to somewhat lesser extent, there have been improvements in our understanding of how risk is transmitted from the financial system to the real economy. This chapter investigates a related yet distinct manifestation of systemic risk, namely systemic sovereign risk. Using data on sovereign credit …

Surplus Consumption, Habit Utility And Moody Investors, Jun Lou

Dissertations, Theses, and Capstone Projects

The thesis examines a blend of Asset Pricing topics: joint stock-bond pricing, consumption-based asset pricing puzzles, time variation in risk preference, among others. In chapter one, I first review the literature on respective topics in search of a consolidated framework of resolution. I then propose one, a consumption-based affine model that jointly prices bond and stock in closed form. The tractable feature of the price solutions remains standard as in affine termstructure of interest rates, but presents novelty for the stock prices. In chapter two, I discuss the GMM based procedures for model estimation. In chapter three, I interpret the …

Unofficial Dollarisation And Monetary Policy In Nigeria, Y. Adamu

Economic and Financial Review

This paper examined the impact of dollarisation on monetary policy in Nigeria, using monthly data spanning 2002 to 2016. The paper adopted the conventional IMF proxy for dollarisation and traced its reactions to changing monetary policy stance. Using the vector autoregression (VAR) model and interbank rate as an indicator of monetary policy stance, the results showed that the size of dollarisation could influence the outcome of monetary policy, though the impact was small. This was evident from the output equations, that inflation did not respond in the first month and responded negatively in the second month. However, from the third …

Financing And Productivity: Evidence From Indian Manufacturing Industry, Tingyi Wu

Master's Theses

India grows rapidly in recent years, not to mention its high-technology industry. What are secrets behind this fast-growing situation? This paper intends to find the answer using a firm-level panel data in India and examine the loan-productivity relationship via both contemporaneous and lagged models. I find positive and statistically significant results that loans play an important role in firms’ performances.

The Impact Of Money Supply And Electronic Money: Empirical Evidence From Central Bank In China, Rui Qin

Applied Economics Theses

The purpose of this paper is to study the electronic money's influence on the money supply as well as the power of the central bank. We show in an illustrative theoretical model that electronic money will impact on money supply, especially affect M0 and M1. Using data of central bank in China during 1990 to 2010 and applying ordinary least squares (OLS) regression models, we find robust evidence that electronic money has a negative impact on M0, but a positive impact on M1. In addition, the central bank's abilities to control money supply can be affected by the wide application …

Interest Rate Dynamics And Real Output Behaviour In Nigeria: A Simulation Analysis, S. Rapu, G. Sanni, D. Penzin, N. Nkang, P. Golit, H. Okafor, E. Ibi

Economic and Financial Review

The declining output growth observed from the second quarter of 2014, which led to calls for a more expansionary monetary policy despite rising inflationary pressure, necessitated a reassessment of the impact of interest rate on real output growth in Nigeria. Using a Bayesian Vector Autoregressive (BVAR) model and quarterly data from 2000:Q4 to 2015:Q3, the effect of monetary policy transmission (interest rate dynamics) on real output performance was estimated. Although results of the simulation analysis were somewhat mixed, those of the impulse response functions indicated that positive shocks to monetary policy rate (MPR) produced a negative and small impact on …

Essays On The Law Of One Price In Financial Markets And The Recent Financial Crisis, Igor Sorkin

Dissertations, Theses, and Capstone Projects

Essay 1: The theory of the Law of One Price (LOOP) is one of the most important theories in International Economics. I use financial markets to revisit the validity of the LOOP in the short run, and then extend the analysis into the long-run to examine whether events such as the Financial Crisis of 2007-2009 can lead to the failure of the LOOP or worsen deviations from it. Using the data on Canadian companies cross-listed on the New York Stock Exchange, I find strong support that the LOOP holds in a cross-sectional framework despite the fact that the sample includes …

Nipa Imputed Interest, Anwar Shaikh Phd

Archives of Anwar Shaikh

4:23 PM    

Claude responded: This collection includes:

This collection includes:

• Shaikh, A. (n.d.). [Handwritten folder label identifying contents as "NIPA imputed interest / BEA email"; handwritten notation on folder tab: "Tenure reviews 2016/2017"]. Unpublished manuscript note. New School for Social Research.
• Terroni, E. (2010, August 27). Answer to your question on imputed interest [Email with attachment: imputed interest.pdf, sent to [email protected]]. Bureau of Economic Analysis, U.S. Department of Commerce.
• Bureau of Economic Analysis, U.S. Department of Commerce. (ca. 2010). Imputed interest paid and received by commercial banks [Methodological document attached to email correspondence]. U.S. Department of Commerce. …

A Retrospective Insight Into Pakistan's Exchange Rate Regimes And Their Impact On The Economy, Lalarukh Ejaz, Madeeha Akhtar

Business Review

Nuclear tests carried out by Pakistan in May 1998 had a distinctive impact on the evolution of the exchange rate. This case describes what happened to the exchange rate before and after the nuclear tests and focuses on the overall impact of Pakistan’s transition from a hostile relationship with the US in the post-Cold War era to becoming an ally of the US in the war on terror. This case can be used to study the concepts of real and nominal exchange rates, the linkage between exchange rate policy and external balance, how exchange rate can be used as a …

Accelerating Financial Inclusion Through Non-Cash Assistance: Exploring Factor Affecting Beneficiaries Perception, Sartika Djamaluddin

Economics and Finance in Indonesia

Distribution of social assistance through a non-cash system is a new government breakthrough to increase transfer effectiveness and promote financial inclusion. After the pilot project in 2014, the recent study found that there is a number of beneficiaries who feel the non-cash system is difficult. Therefore they use non-cash facilities to get the transfer only and do not want to use for other financial services. This fact could become an obstacle to financial inclusion. This study aims to investigate what factors influence beneficiaries perception to use non-cash system. We conducted a survey of 139 non-cash beneficiaries in Kabupaten Cirebon, West …

Export Stimuli, Export Stages And Internationalization Pathways: The Case Of Indonesian Smes, Mohamad D. Revindo

Economics and Finance in Indonesia

Small and Medium-sized Enterprises (SMEs) in developing countries are still constrained to seize the opportunity of trade liberalization as compared to their large counterparts. It has been argued that effective efforts to foster SME export require clear understanding of the factors that stimulate them to export. This study investigates the export stimuli of 385 Indonesian SMEs at different export stages (pre-exporting and exporting) and different internationalization pathways (domestically established exporter and born-global SMEs). Three types of export stimuli are consistently identified as the most important in all sub-samples: the presence of foreign buyers, the confidence in the products and the …

How Congested Jakarta Is? Perception Of Jakarta’S Citizen On Traffic Congestion, Muhammad Halley Yudhistira

Economics and Finance in Indonesia

This paper aims to reveal the behavior and perception of Jakarta's citizens on traffic congestion in Jakarta. Although this approach is somewhat well-developed in behavioral science, its utilization in urban economics study, is still limited. Detecting the traffic congestion and its cause mainly relies on physical (engineering) methods, i.e V/C ratio. Here, we define the traffic congestion through two variables; ordinal traffic congestion perception and proportion of expected travel time to perceived travel time. Using a non-probabilistic sampling survey held in one of densest business district in Jakarta called Sudirman-Thamrin Golden Triangle Area; the estimation results show that travel behavior …

Child Labour In Indonesia: Supply-Side Determinants, Dayang Haszelinna Binti Abang Ali, G. Reza Arabsheibani

Economics and Finance in Indonesia

This study analyses the determinants of working among 10-17 years children and to investigate the presence of Luxury Axiom. Child tends to work as they gets older, has biological ties to the household head and lives in a rural area. The higher levels of household heads education lead to the childrens been less likely to work. With regard to the Luxury Axiom, household income is negatively impact the work decision. Birth order is positively related to working and the probability of working decreases by the presence of employed adult. Finally, the impact of the childs activities varies by provinces.

Local Government Forestry Expenditure And Forest Land Cover: A Preliminary Lesson From Decentralized Indonesia, Firda Hidayati

Economics and Finance in Indonesia

Even though government of Indonesia invests billions of rupiah to tackle deforestation, its effectiveness has been questionable. This study analyses changes in rates of forest cover in Indonesia and their association with forestry expenditures (FE) spent by the provincial governments. Based on 2007 to 2010 data, linear multiple regression results indicate that FE is not enough to tackle the negative change in forest land cover that could represent deforestation. Moreover, it was found that FE have negative association with forest land cover and therefore, can be associated to deforestation. This negative association remains when other factors that affect forest land …

Pegxit Pressure: Evidence From The Classical Gold Standard, Kris James Mitchener, Gonçalo Pina

Economics

We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on commodity-price movements from the classical gold standard era, we then show that the model’s main prediction holds even for the canonical example of hard pegs. We identify a negative causal relationship between export-price shocks and currency-risk premia in emerging market economies, indicating that negative export-price shocks increased the probability that countries abandoned their pegs.

Lowering Regional Inflation? Improve Budget Absorption, Vid Adrison

Economics and Finance in Indonesia

The subnational government spending in Indonesia exhibit a highly skewed distribution, i.e., it is very low in the first two-quarters and then increases significantly in the last two-quarters. Such explosive pattern poses two disadvantages. First, the regional output will fall below its optimal level as the low government capital expenditure leads to a fewer provision of public goods. Second, a significant increase in government spending in the later quarter pushes the short run aggregate demand to the northeast and creates an inflationary pressure in the following quarters. In this study, we analyze the effect of quarterly regional government expenditure growth …